Automotive Battery Thermal Management System Market is

New York, Sept. 19, (GLOBE NEWSWIRE) -- Overview

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The Automotive Battery Thermal Management System Market size is expected to reach USD 3.5 billion by and is further anticipated to reach USD 20.7 billion by according to Dimension Market Research. The market is anticipated to register a CAGR of 21.7% from to .

An automotive battery thermal management system or BTMS is a device that controls the temperature of a vehicle's battery to ensure the best performance, safety, and longevity. Its applications like keeping the battery within a specific temperature range to avoid overheating or freezing, increasing energy efficiency, extended battery life, and assuring the safe operation of electric and hybrid cars in a variety of environments.

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The US Overview

The Automotive Battery Thermal Management System Market in the US is projected to reach USD 0.9 billion in at a compound annual growth rate of 20.3% over its forecast period.

The U.S. automotive battery thermal management system market is expected to grow, driven by growth in electric vehicle adoption, advancements in battery technology, and supportive clean energy policies. Also, rising consumer demand for high-efficiency, long-range EVs provides opportunities for market expansion and innovation. However, challenges like high development costs & technical complexities persist, though government incentives continue to drive progress.

Important Insights

• The Automotive Battery Thermal Management System Market is expected to grow by USD 16.5 billion by from with a CAGR of 21.7%.
• The conventional segment is set to dominate in with a major & is anticipated to leads throughout the forecasted period.

• The air cooling & heating segment is anticipated to lead the Automotive Battery Thermal Management System market in .
• The passenger vehicle segment is set to get the highest revenue share in in the Automotive Battery Thermal Management System market.
• Asia Pacific is anticipated to hold a 47.9% share of revenue in the Global Automotive Battery Thermal Management System Market in .

Global Automotive Battery Thermal Management System Market: Trends

• Integration of Advanced Materials: Recent developments includes the use of phase change materials (PCMs) & advanced heat transfer fluids in automotive battery thermal management systems. These materials improve thermal conductivity and efficiency, allowing for more effective heat management in EV batteries.
• Smart Thermal Management Systems: The adoption of AI and IoT technologies in BTMS is gaining traction. These smart systems allow real-time monitoring and adaptive thermal management, optimizing battery performance and extending battery life through predictive analytics & smart-systems automated controls.
• Focus on Lightweight Solutions: There is a major trend towards developing lightweight BTMS to improve overall vehicle efficiency. Manufacturers are highly using lightweight composites and innovative design techniques to minimize the weight of thermal management components, improving EV range and performance.
• Collaborative Industry Efforts: Industry players are collaborating largely to standardize BTMS components and interfaces, which supports interoperability and scalability, minimizing costs and accelerating the adoption of advanced thermal management solutions across different EV models and brands.

Automotive Battery Thermal Management System Market: Competitive Landscape

A dynamic mix of established players and emerging innovators characterizes the competitive landscape of the automotive battery thermal management system market. Companies are focusing on developing advanced thermal management technologies to meet the growing demand for efficient and safe battery systems. Key strategies like investing in R&D, forming strategic partnerships, and enhancing product offerings to cater to several vehicle types and propulsion technologies, which drive constant improvement and innovation in thermal management solutions.

Some of the major players in the market include Samsung, Valeo, Hanon Systems, Robert Bosch GmbH, LG Chem, MAHLE GmbH, DANA, and more.

Some of the prominent market players:

• Samsung
• Valeo
• Hanon Systems
• Robert Bosch GmbH
• LG Chem
• MAHLE GmbH
• DANA
• CapTherm Systems
• VOSS Automotive
• Continental AG
• Other Key Players

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Automotive Battery Thermal Management System Market Scope

Report HighlightsDetailsMarket Size ()USD 3.5 BnForecast Value ()USD 20.7 BnCAGR (-)21.7%The US Market Size ()USD 0.9 BnLeading Region in terms of Revenue  ShareAsia PacificPercentage of Revenue Share by Leading Region47.9%Historical Data - Forecast Data - Base YearEstimate YearSegments CoveredBy Battery Type, By Technology, By Propulsion, and By Vehicle TypeRegional CoverageNorth America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)

Regional Analysis

Asia-Pacific is set to dominate the automotive battery thermal management system market with a 47.9% share in , driven by advanced lithium-ion technologies, major companies, & significant R&D. Further, the region's growth is driven by an expanding automotive industry, rising disposable income, and encouraging government policies on electrification. With key players like Hanon Systems and LG Chem and countries such as Japan, South Korea, India, and China, Asia-Pacific is a major automotive hub. Also, Europe will hold the second-largest market share, propelled by leading manufacturers like Robert Bosch and VOSS Automotive advancing thermal management technologies.

By Region

North America

• The U.S.
• Canada

Europe

• Germany
• The U.K.
• France
• Italy
• Russia
• Spain
• Benelux
• Nordic
• Rest of Europe

Asia-Pacific

• China
• Japan
• South Korea
• India
• ANZ
• ASEAN
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Argentina
• Colombia
• Rest of Latin America

Middle East & Africa

• Saudi Arabia
• UAE
• South Africa
• Israel
• Egypt
• Rest of MEA

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Segment Analysis:

The automotive battery thermal management system market is divided into passenger cars and commercial vehicles. The passenger car segment is expected to dominate globally in , driven by factors like a high number of vehicles, accessible advanced technologies, and growth in disposable incomes. Further growing urbanization and higher spending among affluent consumers further boost this segment. While lower in comparison, the commercial vehicle segment has seen significant growth, mainly due to light commercial vehicles. Despite lower overall demand in comparison to passenger cars, it is expected to expand substantially as battery thermal management technologies enhances the performance and efficiency.

Automotive Battery Thermal Management System Market Segmentation

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By Battery Type

• Conventional
• Solid

 By Technology

• Air Cooling & Heating
• Liquid Cooling & Heating
• Phase Change Material (PCM)

By Propulsion

• HEVs
• PHEVs
• FCEVs
• BEVs

By Vehicle Type

• Passenger Vehicles
• Commercial Vehicles

Global Automotive Battery Thermal Management System Market: Driver

• Increasing Electric Vehicle (EV) Adoption: The growth in electric vehicle (EV) sales globally is driving the demand for efficient battery thermal management systems. As governments implement strict emission regulations, consumers are switching toward EVs, requiring advanced BTMS to ensure battery efficiency & longevity.
• Technological Advancements: Innovations in battery technology, like solid-state batteries and fast-charging capabilities, require specialized thermal management solutions. Constant R&D efforts are driving the development of more efficient, compact, and affordable BTMS, driving market growth.
• Government Incentives and Policies: Governments across the world are providing incentives, subsidies, and tax rebates to promote the adoption of electric vehicles. These policies help the BTMS market as manufacturers look to meet regulatory standards and improve vehicle performance through effective thermal management.
• Rising Demand for High-Performance Vehicles: The need for high-performance EVs with longer ranges & shorter charging times is growing. Effective thermal management systems are important for maintaining optimal battery temperature, thereby improving vehicle performance, safety, and battery life and driving market growth.

Global Automotive Battery Thermal Management System Market: Restraints

• High Initial Costs: The development and integration of advanced BTMS technologies entail significant costs. These high initial investments can deter smaller manufacturers and slow down broader adoption, mainly in price-sensitive markets.
• Complexity and Maintenance: BTMS adds complexity to vehicle design and maintenance, requiring specialized skills and equipment, which can increase the total cost of ownership for EVs, creating a barrier for consumers and impacting market growth.
• Limited Infrastructure: The insufficient charging infrastructure in many regions impacts the growth of the EV market, indirectly affecting the need for BTMS. Without adequate help for EV charging, the adoption of vehicles demanding advanced thermal management systems remains constrained.
• Raw Material Constraints: The availability and cost of raw materials for BTMS components, like rare earth metals and advanced cooling fluids, can be volatile. Supply chain disruptions and fluctuating material costs can impact production and increase overall market uncertainty.

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Global Automotive Battery Thermal Management System Market: Opportunities

• Growing EV Market in Developing Regions: Emerging markets, mainly in Asia-Pacific and Latin America, provide significant growth opportunities as they quickly adopt electric vehicles. Expanding EV penetration in these regions drives the demand for effective BTMS solutions to ensure vehicle performance and safety.
• Advancements in Battery Technology: Ongoing research and development in battery technologies, such as solid-state batteries, open new avenues for BTMS innovation. Enhanced battery performance and efficiency require advanced thermal management systems, presenting a lucrative opportunity for market players.
• Collaborations and Partnerships: Strategic alliances between automotive manufacturers, technology providers, and research institutions can drive BTMS advancements. Collaborations can lead to the developing of advanced solutions, faster time-to-market, and higher adoption of advanced thermal management systems.
• Regulatory Support and Environmental Initiatives: Higher governmental support through favorable policies & environmental initiatives encourages the adoption of EVs. Regulations focused on reducing carbon emissions & promoting sustainable transportation boost the demand for effective automotive Battery Thermal Management Systems Market, providing major market opportunities.

Recent Developments in the Automotive Battery Thermal Management System Market

• June : Marelli unveiled secured a major contract to supply 5 million Battery Thermal Plates for BEVs, starting in , across global markets.
• April : Mahle secured about USD 1.6 billion in orders for thermal management modules, developing an EV range of up to 20%, and charging speed.
• April : Carrar secured USD 5.3 million Series A funding round, including new & existing investors, which will help automotive-grade EV battery modules with two-phase immersion technology
• January : XING Mobility unveiled that the company will showcase its Cell-to-Pack immersion cooling battery system at CES , featuring a public safety test at full charge.
• October : Modine announced that the company will expand EVantage thermal management production to Europe, with its Italian facility producing systems for various vehicle manufacturers starting in .

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As electric vehicles (EVs) become more prevalent, the need for effective thermal management solutions in their battery systems has never been more critical. These systems, primarily composed of lithium-ion (Li-ion) cells, offer a superior combination of high energy density, extended life cycles, and the ability to charge and discharge rapidly. However, the electrochemical nature of Li-ion batteries makes them susceptible to heat generation, which can pose significant challenges to safety, performance, and longevity.

Why is Thermal Management Vital for EV Batteries?

Li-ion batteries have revolutionized the EV industry due to their ability to power vehicles for hundreds of miles on a single charge. However, the very properties that make them suitable for this purpose also create the need for efficient thermal management. Here's why:

• Electrochemical Heat Generation: The internal reactions within Li-ion cells produce considerable heat during charging, discharging, and vehicle operation. Without proper cooling mechanisms, this heat can accumulate, leading to performance degradation.
• Flammable Electrolyte Composition: The electrolyte in Li-ion batteries, which facilitates the flow of electric charges, is made of organic compounds that are highly flammable. This increases the risk of thermal runaway, where excessive heat triggers uncontrolled chemical reactions, potentially leading to fires that are notoriously difficult to extinguish.

Li-ion Batteries and Temperature Sensitivity

Temperature fluctuations play a significant role in the aging and effectiveness of Li-ion cells. When temperatures fall below 0°C, the batteries experience rapid degradation, and their ability to deliver power diminishes. In extreme cold, such as below -40°C, battery failure becomes a real concern. On the opposite end, excessive heat accelerates aging, reduces power capacity, and can trigger thermal runaway events, threatening the safety of the entire system.

Key Benefits of Thermal Management for EV Batteries

1. Heat Dissipation: Proper thermal management systems dissipate excess heat generated by Li-ion batteries, preventing localized hot spots that could compromise performance or lead to dangerous malfunctions.
2. Isolation of Overheating Cells: In multi-cell battery packs, it's crucial to contain the heat from overheating cells to prevent chain reactions that could lead to system failure or fires.
3. Enhanced Structural Support: Beyond temperature regulation, thermal management materials like thermally conductive adhesives provide structural support to battery assemblies, improving overall system integrity.
4. Prevention of Uneven Cell Aging: Temperature variations can cause individual cells to age at different rates, leading to imbalances in the battery pack. Thermal management systems ensure uniformity in aging and performance across all cells.
5. Electrical Insulation: Effective solutions also insulate battery components from electric arcing, which can otherwise damage sensitive parts or pose safety risks.

The Role of Advanced Thermal Management Solutions in EV Safety

Electric vehicles rely heavily on thermally conductive materials to ensure not only efficiency but also safety. These solutions are essential for dissipating heat during regular operation, isolating faulty cells, and preventing thermal runaway events. As EV adoption grows, integrating advanced thermal management technologies is vital for the safety, reliability, and longevity of EV battery systems.

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